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, payroll numbers in a row hurting consumer spending. you don't spend when you are worried about your job or can't find a new one. feeling heart sick about the consumer's ability to spend and 2/3rds is driven by the consumer. we're a nation of shoppers, or at least we thought we were. second, the federal government failed to extend long-term unemployment benefits while at the same time cutting back on food stamps allocations, two of the most important backstops. that's a national dream on purchasing power, but not as big as the third impediment, the heating bill. most houses are heated by natural gas and many have doubled in price. that's a huge hit. some say bills have gone up $300 a month since the miserable weather began. we know america had the worst winter nationwide in 37 years. it kept stores and malls closed and derailed the normal spending patterns. when merchandise doesn't get sold, it gets marked down. >> sell, sell, sell, sell. >> which means profits get hurt and when profits get hurt, stocks go lower. fifth, the competition stiffened to the point where the quality retailer is
on the stakes here. see, we've already had not one, but two weak payroll numbers in a row, which should have wrought havoc among the industrials, but didn't, because the stocks may have ural universally decided t slowdown was related to january's weather. last month, the stock market's gotten a free pass. but if next week's number is lousy, there will be no free pass this time. even as we all know february had some pretty nasty weather too. so the big boys are making their bets, and they're saying a week number's a hit. so earnings may not be that robust going forward. maybe there'll be those profit warnings. we're almost at that profit warning season. later on, after we award the golden bulls, i'll talk about some industrials that have been strong, however, that strength will perhaps wither if the employment numbers are weaker than some are expecting. even if we get a weak number ton friday, there may be so much worry built into the market by then, that we could actually get a relief rally, as nutty as that sounds, because the worry that started today will at last be over, and that's been k
Search Results 0 to 1 of about 2